Sun Revises Its Loss for Latest Quarter
From Associated Press
Sun Microsystems Inc. reduced its fiscal first-quarter loss in a revision disclosed Friday after the company finalized the accounting for a $92-million settlement of a patent dispute with Eastman Kodak Co. over the Java programming technology.
Sun’s loss for the three months ended Sept. 26 was pared by $27 million, or 1 cent a share, to $147 million, or 4 cents, according to a regulatory filing. A year earlier, Sun had a loss of $286 million, or 9 cents.
The company had sales of $2.63 billion in the latest quarter.
Analysts had expected Sun to lose 3 cents a share on sales of $2.7 billion, according to a survey by Thomson First Call.
Shares of Sun rose 17 cents to $4.79 on Friday on Nasdaq.
